Lepanto strikes gold

Yap-led Lepanto Consolidated Mining Co. reported that its net income surged 40 times to P659 million in the first five months of 2025 from the P16 million earned in the same period last year, as it ramped up production amid rising gold prices.

- By JAMES A. LOYOLA

In a disclosure to the Philippine Stock Exchange (PSE), the firm said the increase is attributable to the 23-percent growth in production—from 8,258 ounces of gold to 10,151 ounces—and the higher gold price of $3,035 per ounce, compared with $2,182 per ounce last year.

In contrast, Lepanto said the increase in its expenses was relatively minimal, at nine percent compared with last year.